- Cardano founder claims December 15 to be the settlement date for Ripple vs SEC case.
- Ripple and the US SEC gave their final submissions to the court on December 3.
- Lawyer Jerry Hogan predicts a 30% chase for Ripple to lose the case.
During an ongoing Ask Me Anything video streaming live on YouTube on December 12, the Cardano founder, Charles Hoskinson made a fierce claim about the 2-year-long lawsuit between cryptocurrency payment protocol, Ripple and the US Securities and Exchange Commission (SEC).
Hoskinson proceeded to discuss the settlement date for the legal dispute between the two entities. He reported that he received information that the potential settlement date for the case can occur on December 15.
However, he commented that the end decision will have “catastrophic implications” for the industry, but the market must move forward regardless of the consequences. Hoskinson stated,
I heard rumors that the Ripple case will be settled on December 15, and that could have catastrophic implications for the industry one way or the other.
He further added that, just like other asset classes in the industry, the US government doesn’t get a say on whether Cardano “lives or dies,” but the people and the users do due to the decentralized ecosystem cryptocurrency exists in.
On December 2, both Ripple and SEC filed their motions for summary judgement, which were the final submissions under Judge Torres before the announces the ruling for the case. While the industry patiently waits, the community speculates about the outcome of the case.
On the other hand, American attorney Jerry Hogan, who has been a commenter for the XRP community and has been closely following the Ripple vs SEC lawsuit since the beginning shared a range of potential outcomes.
According to Hogan’s YouTube video in which we explained his analysis, the outcome for Ripple Labs can go three ways including a win, a loss, or even a draw. Nevertheless, the lawyer anticipates a win for the blockchain firm with a 30% chance of loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
